WashingtonSB 62252025-2026 Regular SessionSenate

Authorizing bonds for transportation funding.

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Bill Overview

Analyzed Economic Effects

4 provisions identified: 2 benefits, 0 costs, 2 mixed.

More bond financing for Highway 520

Beginning March 31, 2026, Washington raises State Route 520 corridor bond authority from $1.95 billion to $2.45 billion. That adds $500 million in available financing for corridor projects. These state-backed bonds are repaid first from toll revenue and taxes on motor vehicle and special fuels. The law does not set a new household tax or toll rate.

Washington authorizes $800 million for highways

Beginning March 31, 2026, Washington authorizes $800 million in bonds for highway planning, design, land purchases, and construction. The Transportation Department requests the bonds, and lawmakers must approve spending the net proceeds before any sale. Money goes into the Move Ahead WA account for these projects, short-term borrowing repayment, and bond sale costs, including underwriting. The State Finance Committee oversees bond sales and repayment. It can use short-term borrowing when that offers better interest rates or makes the debt easier to sell.

Washington pledges transportation revenues for repayment

Beginning March 31, 2026, Washington guarantees the new bonds and pledges fuel taxes and highway-use vehicle license fees for repayment. Lawmakers must keep these taxes and fees sufficient to cover principal and interest; no specific rate increase is set. Move Ahead WA revenues pay first, before other fuel-tax allocations for the state, counties, cities, and towns cover shortages. Later Move Ahead WA revenues not needed for debt payments must repay amounts taken from those other allocations. By June 30 each year, the Finance Committee must certify payment needs, and the Treasurer must transfer required revenues. Payments use the Highway Bond Retirement Fund or a special payment account. These bonds share equal claims on pledged revenues with other state general obligation bonds backed by the same taxes and fees.

Washington sets transportation bond issuance deadlines

Beginning March 31, 2026, the law sets a June 30, 2026 deadline for three transportation bond authorizations. Only authority for bonds not issued by that date expires; already-issued bonds are unaffected. The highway authorization stays at $100 million: up to $25 million for demonstration-project matches, $50 million for federal-share advances, and $25 million for local-government matching loans. Those loans last no more than 10 years and charge the same interest rate as the bonds. District 1 headquarters acquisition and improvement bonds remain capped at $15 million. Public-private transportation bond authority rises from $25 million to $25.625 million, but also faces the June 30 deadline.

Sponsors & Cosponsors

Sponsor

Marko Liias
Democratic • Senate

Cosponsors

Curtis King
Republican • Senate

Roll Call Votes

All Roll Calls

Yes: 157 • No: 38

Senate vote • 3/12/2026

Final Passage as Amended by the House

Yes: 49 • No: 0

House vote • 3/11/2026

Final Passage as Amended by the House

Yes: 59 • No: 38 • Other: 1

Senate vote • 2/27/2026

3rd Reading & Final Passage